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What is Collateral Protection Insurance?

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If you have a collateralized loan with Redwood Credit Union

It is important that we receive acceptable proof of the required insurance or it may become necessary to protect our interest by purchasing a Collateral Protection Insurance (CPI) certificate at your expense. When purchased, this insurance will be added to the balance of your loan and increase your loan payment to include the amortization of the policy premium over the period of one year.

Facts about CPI Coverage:

Be aware that CPI is not a substitute for standard insurance.

CPI generally carries higher premiums than insurance you can purchase on your own.

CPI protects only our interest in your collateral for claims filed by us.

More importantly it does not provide any liability coverage for claims made against you.

CPI does not satisfy mandatory liability insurance or financial responsibility laws of this or any other state.

Vehicles must be insured even if in Planned Non-Operational (PNO) status or in storage.

For these reasons, you must provide your own insurance.

Primary insurance requirements:

Continuous insurance coverage with no lapses

Lender Name named as lien holder or loss payee

Redwood Credit Union
P.O. Box 6104
Santa Rosa, CA 95406

Comprehensive and collision coverage (or physical damage) with deductibles not greater than $1,000

WARNING: If your Security Question and Favorite Color do not match what you entered at registration in DO NOT CONTINUE and contact us immediately.

Email

Confirm Email

PasswordPassword not entered

Retype Password

First Name

Last Name

Birthdate (mm/dd/yyyy)

Company

WARNING:

Password Security Question

Password Security Answer

Favorite Color

Terms of Use
I agree to the terms of use.

RCU values your privacy and will protect your information. We will not sell or share your information with anyone outside of RCU. Registration only requires that you provide a few key pieces of information. When setting up your profile, you will be given the option to opt-out of receiving any promotional information from us via email. We thank you for taking the time to register with us.